POCO India announced on Monday that it grew by 300 percent in just the first quarter of 2021. This makes it the nation’s fastest growing brand. In just ten months, the company has risen to become one of the top three online smartphone companies in India.
In March, the company also revealed that the POCO X2 had become the best-selling smartphone on Flipkart. Poco X2 falls in the 15,000-20,000 price range, only one month after its launch. The X3 was also classified as one of the most successful phones under 20,000 rupees.
The company said in a press release that within a period of 10 months, POCO joined Realme and OnePlus to become the third online smartphone brand. And today, it has created another achievement in its solo journey by recording the highest growth of 300% in the first quarter of 2021.
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POCO M3’s Success
With its M3, POCO has achieved a significant milestone. In only 45 days of the smartphone’s launch, the company claimed to have sold 500,000 units.
Mobile brands are likely to suffer a big hit in the 2nd quarter. This is due to the ongoing outbreak of the Covid-19 pandemic with corresponding lockdowns. According to the IDC survey, the recovery in 2021 may not be as smooth as previously thought. It’s because of the uncertainty about the second Covid-19 wave’s long-term impact on the country. According to IDC, client morale will improve in the second half of the year. This year’s growth could be in the single digits.
“However, the degree of growth will be restricted due to reduced discretionary spending, supply constraints, and anticipated price hikes in components in upcoming quarters,” Navkendar Singh, Research Director, Client Devices & IPDS, IDC India had stated.
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Narender Kumar
Always on the quest to learn and share the knowledge. Big fan of books (but not the self help ones) specially fiction. A grammar Nazi who loves to eat, cook, travel and watching thunderstorms.